Cautious Managed tops FundsNetwork’s October sales

The IMA Cautious Managed sector was FundsNetwork’s most popular sector with IFAs during October, while the Fidelity MoneyBuilder Income fund was the bestselling product.

Cautious Managed has benefited from a surge in popularity in recent months, as continued uncertainty in the markets drive investors towards the sector, and was FundsNetwork’s top-selling sector in September.

UK Corporate Bond, Strategic Bond, Global Growth and UK All Companies complete October’s bestselling sectors on the FundsNetwork platform.

Nine of the top ten sectors were the same as September, with only one new entry as UK Equity Income replaced Specialist as the tenth bestselling sector.

In terms of individual products, the Fidelity MoneyBuilder Income fund topped the table. The Fidelity Strategic Bond, Fidelity South East Asia and Fidelity Cash funds also made it into the top five.

Last week, Cofunds said Cautious Managed was its top-selling sector in October, accounting for 55% of sales. Global was the second bestselling sector of the month, followed by Balanced Managed.

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